FOREX TradingCharts.com

Financial News: China's Factory Gate Prices Fall At Faster Pace;

China's Factory Gate Prices Fall At Faster Pace; Inflation Eases

06/10/2020 - 02:24:00 (RTTNews)

(RTTNews) - China's factory gate prices fell deep into deflation in May and consumer price growth slowed for the fourth straight month, reflecting weak demand despite government measures to boost spending and exports after coronavirus pandemic hit the economy.

Producer prices fell by more-than-expected 3.7 percent on a yearly basis after declining 3.1 percent in April, data published by the National Bureau of Statistics revealed on Wednesday.

This was the biggest fall in around four years. Economists had forecast an annual drop of 3.3 percent.

The marked decline in producer prices is set to weigh on industrial profitability, which dropped at a slower pace in April.

Consumer price inflation eased to a 14-month low of 2.4 percent in May from 3.3 percent in April, data showed. Prices were expected to climb 2.7 percent. Inflation has been slowing since February.

Food prices gained 10.6 percent but slower than the 14.8 percent increase logged in April. Food inflation was largely driven by an 81.7 percent increase in pork prices. At the same time, non-food prices rose only 0.4 percent, the same rate as reported a month ago.

Food prices aside, the recent decline in inflation could be nearing an end, Julian Evans-Pritchard, an economist at Capital Economics, said.

Core inflation, which excludes food and energy prices, remained unchanged at 1.1 percent in May.

On a monthly basis, overall consumer prices decreased 0.8 percent, following a 0.9 percent drop a month ago. Likewise, producer prices were down 0.4 percent versus a 1.3 percent drop in April.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Retains Interest Rate, Asset Purchase Programme As Expected (08 min(s), 59 sec(s) ago)
(RTTNews) - Australia's central bank kept its key interest rate at a record low and the target ...Full Story»

European Economics Preview: Germany Industrial Production Data Due (50 min(s), 59 sec(s) ago)
(RTTNews) - Industrial production from Germany and house prices from the UK are due on Tuesday, he ...Full Story»

Fed's Bostic Warns US Recovery May Be Stalling: FT (58 min(s), 59 sec(s) ago)
(RTTNews) - US economic recovery may be "leveling off" as activity could be dampened amid a recent ...Full Story»

Australia Keeps Interest Rate, QE Unchanged (01 hr(s), 33 min(s), 59 sec(s) ago)
(RTTNews) - Australia's central bank maintained its key interest rate and the target yield on ...Full Story»

Australia Performance Of Services Index Slips In June - AiG (46 min(s), 01 sec(s) ago)
(RTTNews) - The services sector in Australia continued to contract in June, and at a slightly fast ...Full Story»

Japan Household Spending Tumbles 16.2% In May (30 min(s), 01 sec(s) ago)
(RTTNews) - The average of household spending in Japan was down 16.2 percent on year in May, the M ...Full Story»

South Korea Has $2.29 Billion Current Account Surplus (56 min(s), 01 sec(s) ago)
(RTTNews) - South Korea had a current account surplus of $2.29 billion in May, the Bank of Korea s ...Full Story»

Australia Rate Decision On Tap For Tuesday (41 min(s), 01 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Retains Interest Rate, Asset Purchase Programme As Expected

07/07/2020 - 02:10 AM (RTTNews)
(RTTNews) - Australia's central bank kept its key interest rate at a record low and the target ...Full Story>>

European Economics Preview: Germany Industrial Production Data Due

07/07/2020 - 01:28 AM (RTTNews)
(RTTNews) - Industrial production from Germany and house prices from the UK are due on Tuesday, he ...Full Story>>

Fed's Bostic Warns US Recovery May Be Stalling: FT

07/07/2020 - 01:20 AM (RTTNews)
(RTTNews) - US economic recovery may be "leveling off" as activity could be dampened amid a recent ...Full Story>>

Australia Keeps Interest Rate, QE Unchanged

07/07/2020 - 00:45 AM (RTTNews)
(RTTNews) - Australia's central bank maintained its key interest rate and the target yield on ...Full Story>>

Australia Performance Of Services Index Slips In June - AiG

07/06/2020 - 20:05 PM (RTTNews)
(RTTNews) - The services sector in Australia continued to contract in June, and at a slightly fast ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.